10 Business Intelligence Pitfalls to Avoid in the New Decade - Slide 6

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Pitfall 5

Visibility without action is futile. But when projects take a long time to implement, momentum is lost and it can be all too easy to stop acting on the valuable information that’s being produced. It is the responsibility of director and CXO-level leaders to demonstrate their commitment to acting on intelligence. Putting formal meeting and review structures in place creates a strong feedback loop – BI should be used not only to understand where you are but also to measure the success of your resultant actions.

Only by taking action, recording your activity and measuring your progress will you maintain the buy-in of others. There’s little point in having these new capabilities if you don’t use them to improve and can’t demonstrate their value. So strike while the iron’s hot and the benefits will be seen and appreciated.

Business intelligence (BI) emerged 20 years ago as a tool for aiding decision-making. Originally seen as the preserve of analysts and board-level executives, it has slowly evolved into a more democratic medium as organizations have come to realize that decision-makers at all levels and in all departments need access to timely, relevant information. Today, a strong move toward the “consumerization” of BI is evident. Users are demanding the same speed and ease-of-use from their workplace software as ubiquitous tools like Google have delivered in their personal life.

In short, a new breed of BI tools is eschewing cumbersome, complex technology and instead focusing on making the process as intuitive and rewarding as possible. This latest wave of BI – BI 2.0 – is serving a generation of technologically savvy, information-hungry users. Characterized by pioneering features like in-memory and associative analysis, powerful BI 2.0 tools are making a more “self-service” approach to reporting and analysis possible. With them, non-technical users can combine previously disconnected information for a complete view and analysis on the fly – without help from the IT department.

So, BI software should be offering all the answers. But because many companies are still persevering with outdated BI 1.0 technologies, only 13 percent of UK companies polled in 2009 by NCC reported complete satisfaction with their BI projects. In fact, despite spending more than $7 billion on it in a year (IDC), businesses globally are in a worse shape than ever.

According to IDC, “the challenges that BI implementations present mean that many organizations still struggle to deploy BI pervasively”. QlikTech has identified 10 common pitfalls associated with BI 1.0 that prevent organizations from getting full value from their BI investments.

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Related Topics : Business Intelligence Vendors, Data Quality, Data Warehousing, Key Performance Indicators, Knowledge Management

 
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